At this point, I expect price to move lower and sweep the liquidity around $65,000, with a potential higher-timeframe (HTF) target below $60,000.
Originally, I wanted to see a liquidity sweep at $68,480 first. However, price is already rejecting from that region, which shifts the short-term expectations slightly.
For now, bearish bias remains intact unless structure shifts.
$202 million more in sell orders than buy orders within 5% of price.
But here's what's interesting. That imbalance was over $600M a couple weeks ago. Each bounce is eating into the sell side bit by bit. Buyers are absorbing supply on every push up.
Problem is, look at price. Lower highs every single time. Buyers chew through a chunk of sellers, run out of gas, and price rolls over again. Then the sell side reloads.
Absorption only matters if buyers can sustain it. Right now they show up, take a bite, and disappear. The sell side thins out a little, then fills right back up.
The imbalance is slowly shrinking. But until buyers can actually hold a rally instead of fading every push, it's just bounces getting sold into over and over.
When #Bitcoin was 90k it broke down from a bearish penant & i gave targets as low as 60k. That played out with 100% accuracy.
Unfortunately the same exact bearish pennant is repeating one more time with targets of 38-50k $BTC .
This is why we have been trading 1-2 coins at a time, take profits, & repeat.
Even though the market is in its lNever ending pain” era, we are still finding gems to print with and averaging around 30% profit per gem 💎. I will always keep finding gems with you.
$BTC dropped below $67,000 once again, liquidating $300M over the past 24 hours.
Now, $BTC is testing the $65,000 - $67,000 liquidity zone - and these zones rarely get tapped without a reaction.
But here’s the interesting part…
At $69,000 - $72,000 we now have huge liquidity clusters forming, which means once this downside sweep is over, the $69,000 - $72,000 upside liquidity becomes an obvious magnet.